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Mar 21, 2013
03/13
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between those following the accident- that there are still downside to the economy. do you think that policy has made the right move today? >> i think so. i think, in general, the moves that we've seen over the past six months have been quite helpful. the further move in the direction of trying to get the economy back onto a stronger trajectory for the labor market, more rapid labor market improvement and i think the message from what they did today is, you know, for the time being, stay the course. of course, he's not willing to commit what, you know, what's going to happen in the future as far as the quantity of easing programs are concerned. guns, there's still quite a lot of uncertainty about how long that's going to continue for. but our expectation is that it's still going to continue through this year and then will wind down in 2014. but, yeah, we do expect to support the federal reserve. >> and that, yon, is what i wanted to ask you about. did you divine any hints in the press conference or the statement today about when the federal reserve might take its foo
between those following the accident- that there are still downside to the economy. do you think that policy has made the right move today? >> i think so. i think, in general, the moves that we've seen over the past six months have been quite helpful. the further move in the direction of trying to get the economy back onto a stronger trajectory for the labor market, more rapid labor market improvement and i think the message from what they did today is, you know, for the time being, stay...
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Mar 22, 2013
03/13
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>> well, from an economic standpoint the economy has been relatively shruggish. fourth quarter was barely positive. to some degree hurricane sandy has been taking half a percent or so out of growth. as we get into the spring months that will result in an economic pick up based upon the rebuilding. we think a lot of the noise relating to washington is starting to fade, the fiscal cliff, sequester, the debt ceiling, all of those issues seem to be moving out later into the year. so as a result the impediments that were slowing the economy down over the last couple of quarters we think will result in better economic growth. the equity market is starting to sense that. i think to some degree that is some of the reasons why the markets ignored washington and ignored sandy so far this year and is up 10% or so. >> that is why you have such a bullish forecast for the s&p. you are calling for it to end the year at 16.60. it is all going to play out pretty strongly. >> we think corporate earnings will chug along may increase about $108 full year for the s&p. we think we wil
>> well, from an economic standpoint the economy has been relatively shruggish. fourth quarter was barely positive. to some degree hurricane sandy has been taking half a percent or so out of growth. as we get into the spring months that will result in an economic pick up based upon the rebuilding. we think a lot of the noise relating to washington is starting to fade, the fiscal cliff, sequester, the debt ceiling, all of those issues seem to be moving out later into the year. so as a...
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Mar 22, 2013
03/13
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which could be best for you in today's economy. but first, let's take a look at what treasuries were up today. insurances and commodities closed. >>> with home prices on the rise and mortgage rates still near historic lows, a lot of would-be home buyers are looking to jump in while others remain cautious. today's housing market, is it wiser to rent or own your home? diana olick looks for answers. >> so this is the place. >> reporter: newlyweds brian and ally earl are ready to buy their first home together. while owning a home seems daunting, renting just doesn't add up anymore. >> to be honest, it keeps going up. i think we've seen our rent go up over 20% in the last two years. and you don't really have control over your property. >> reporter: rents are rising at an annual rate of 3.5%. but home prices are rising faster. so should you buy or rent? analysts say it's 44% cheaper to buy, but only if you stay in your home for seven years, itemize your deductions and get a 3.5% mortgage rate. >> right now, with how interest rates are, b
which could be best for you in today's economy. but first, let's take a look at what treasuries were up today. insurances and commodities closed. >>> with home prices on the rise and mortgage rates still near historic lows, a lot of would-be home buyers are looking to jump in while others remain cautious. today's housing market, is it wiser to rent or own your home? diana olick looks for answers. >> so this is the place. >> reporter: newlyweds brian and ally earl are ready...
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Mar 25, 2013
03/13
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the faa will now only close 149, due to concerns over national security and the economy. a suprising new study from bankrate.com shows when the payroll tax cut ended this year, it did not have a major effect on all consumers. "more than half of americans haven't noticed the payroll tax expiring at the first of the year. and, even more surprising, those that were expected to cut back on their spending as a result - the lower-income households - are the least likely to have cut back on their spending." greg mcbride of bankrate.com says americans earning between $50,000 and $75,000 were more likly to cut back on spending because of higher payroll taxes, compared to people making $50,000 or less, who did not change their spending habits as much. tuning in now to some corporate earnings, friday, two big-name stocks provided a lift to the markets. tiffany sparkled when it reported solid 4th-quarter results as sales in asia picked up, especially for silver jewelry, while darden restaurants also beat the street. revenue was up thanks to some new restaurant locations. however, it
the faa will now only close 149, due to concerns over national security and the economy. a suprising new study from bankrate.com shows when the payroll tax cut ended this year, it did not have a major effect on all consumers. "more than half of americans haven't noticed the payroll tax expiring at the first of the year. and, even more surprising, those that were expected to cut back on their spending as a result - the lower-income households - are the least likely to have cut back on their...
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Mar 20, 2013
03/13
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FBC
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the economy is picking up steam, no question about it. we're seeing really good stock market obviously. the one thing that i worry about, that ben bernanke doesn't worry about, those esther george, the fed chief, that kansas city bank basically said we have to worry a little bit about inflation when we keep putting $80 billion into the economy every month. i agree with that concern. melissa: julia, what do you think about that. he was asked that question directly a number of times t was also in the statement. very much shrugged it off. he basically said we could use a little bit more inflation right now? >> absolutely. >> he should shrug it off. i completely disagree with that. what the economy needs is employment and employment will lead to wage growth. then we can start worrying about inflation the adpri -- agree with earn about key the bigger risk they pull back too early and once again we see momentum slip away. this is a fragile recovery. the upside of them being wrong so often that they actually acknowledge it and try and adjust. so
the economy is picking up steam, no question about it. we're seeing really good stock market obviously. the one thing that i worry about, that ben bernanke doesn't worry about, those esther george, the fed chief, that kansas city bank basically said we have to worry a little bit about inflation when we keep putting $80 billion into the economy every month. i agree with that concern. melissa: julia, what do you think about that. he was asked that question directly a number of times t was also in...
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Mar 21, 2013
03/13
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among stocks sensitive to what's going on with the economy... fed ex shares hit a road block with investors-- falling-- more than 7 dollars yesterday.. after the company revealing profits fell 30% last quarter wtih weakness in asia. the company also pulled back on its full year forecast. shares of caterillar lost more than a dollar. the construction equipment company said sales of its machines are down 13%. homebuilder lennar attracted buyers as the stock rallied $2 as the company reported its well positioned for this year and next. monster energy is changing the way it markets its products. energy drinks will now be classified as a "beverage" -- instead of a "dietary supplement." under the switch: monster will no longer be required to inform regulators about reports linking its drink to injury or deaths. rockstar energy made a similar move. energy drinks are under intense scrutiny after a 14 year old girl died after drinking two cans in one day. as for the tobacco industry.. graphic images of diseased lungs will "not" appear on cigarette labels
among stocks sensitive to what's going on with the economy... fed ex shares hit a road block with investors-- falling-- more than 7 dollars yesterday.. after the company revealing profits fell 30% last quarter wtih weakness in asia. the company also pulled back on its full year forecast. shares of caterillar lost more than a dollar. the construction equipment company said sales of its machines are down 13%. homebuilder lennar attracted buyers as the stock rallied $2 as the company reported its...
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Mar 20, 2013
03/13
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economy. that does have some effect on monetary policy. one of the most powerful tools we have is bringing down mortgage rates and stimulating home buying, construction, and related industries. so that is an issue we take into account. i would say one thing, which is that as the housing industry has strengthened and home prices have gone up, that has actually brought some people into the credit box, in the sense that the number of people, for example, who are underwater on their mortgages, is declining, as house prices go up. so as people have bigger down payments, bigger equity in their homes, they become more creditworthy. so to some extent, not -- i don't want to overstate it, but to some extent, monetary policy, by strengthening the housing market, helping support house prices, is bringing more people into the mortgage market. >> fox business. the stock market has been hitting all-time highs. it's recovered all of its losses from the financial crisis. i just want to know from you if i stil
economy. that does have some effect on monetary policy. one of the most powerful tools we have is bringing down mortgage rates and stimulating home buying, construction, and related industries. so that is an issue we take into account. i would say one thing, which is that as the housing industry has strengthened and home prices have gone up, that has actually brought some people into the credit box, in the sense that the number of people, for example, who are underwater on their mortgages, is...
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Mar 25, 2013
03/13
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i'm cautiously optimistic about the economy. it seems as if despite the unemployment, despite the debt, that consumers were spending, and we are enjoying the same level of success that we've enjoyed the last 12 months in the u.s. business. >> what about the minimum wage in this country, howard? is 725 enough? lots of pushes to take that up to $9 as president obama as talked about. >> i think the minimum wage issue is a double-edged sword. and what i would not want to see is the minimum wage go up and as a result of that employers starting to hire less people or cutting people's hours. and so you have to be very careful of the unintended consequences. on balance, i am a supporter of the minimum wage going up, but i think we have to be very, very careful. and i would say in terms of the health care law that is going to go into effect, there are significant unintended consequences that was not thought out as much as it should have that will significantly affect the cost structure of small businesses. and this is an example where i
i'm cautiously optimistic about the economy. it seems as if despite the unemployment, despite the debt, that consumers were spending, and we are enjoying the same level of success that we've enjoyed the last 12 months in the u.s. business. >> what about the minimum wage in this country, howard? is 725 enough? lots of pushes to take that up to $9 as president obama as talked about. >> i think the minimum wage issue is a double-edged sword. and what i would not want to see is the...
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Mar 22, 2013
03/13
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that money will trickle down into the economy. you're going to kill it this way. >> it doesn't -- >> the truth is, let me push back on you as well, because is it really fair that if i go into a store i'm paying tax and if i do it online, i'm not? >> it's okay, because the local brick and mortar store is getting the tax benefit of that state. so why should a retailer go ahead and pay tax in a state that they're not in? and it's competition. certain states don't have sales tax and you see businesses going to those states. so let the free market reign out there and stop this madness. >> i'm not so sure it's madness. i think what you're trying to do is, i hate to use the cliche, but level the playing field here. and regardless of whether somebody's getting a service, these are the sorts of things that drive us as consumers, and if there's sales tax applied to the purchase that i make on the internet, that's not going to be the determinant with that suddenly sends me back one way or another. it will be a factor in where i decide to mak
that money will trickle down into the economy. you're going to kill it this way. >> it doesn't -- >> the truth is, let me push back on you as well, because is it really fair that if i go into a store i'm paying tax and if i do it online, i'm not? >> it's okay, because the local brick and mortar store is getting the tax benefit of that state. so why should a retailer go ahead and pay tax in a state that they're not in? and it's competition. certain states don't have sales tax...
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Mar 21, 2013
03/13
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what's your theme right now for the global economy? >> we still like stocks over bonds, but we're getting nervous. >> because of evaluations? >> we've come so far, so fast. double-digit gains last year. we're almost up 10% this year, even after today. but we think -- so you're kind of set up for a correction. the other thing is how optimistic everybody is. everybody's jumped on the bandwagon, so we felt a lot better in december, when not everybody was with it. but i think if there's any correction, it's not going to be as big as the last few years. the fiscal fights are over in washington. less fear of double dip in the u.s. less worries about europe breaking up, cyprus notwithstanding, or china hardlining. so we would see it as a buying opportunity. >> so what do you want to do, then? should you be taking profits on some of those names you've made money on already? how do you look at a market that you're still bullish on, but are getting a little nervous because of evaluations? >> i can't time this correction. >> right, you don't want
what's your theme right now for the global economy? >> we still like stocks over bonds, but we're getting nervous. >> because of evaluations? >> we've come so far, so fast. double-digit gains last year. we're almost up 10% this year, even after today. but we think -- so you're kind of set up for a correction. the other thing is how optimistic everybody is. everybody's jumped on the bandwagon, so we felt a lot better in december, when not everybody was with it. but i think if...
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Mar 20, 2013
03/13
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david: sort of a bellwether of the economy, what the economy is doing here and as well overseas caterpillar was the worst performer on the dow. it was only down less than 2%. it did drag down the dow from what it could have been. the company is reporting dealer sales, get this, in the asian region dropped 26% in the last three months. north america by comparison only fell 12%. big drop in purchases from asia. lauren: stronger than expected results from general mills giving a boost to the food stocks today, a slew of flames hitting life-time highs -- names. hershey, flower foods. j&j snack foods and hormel on the list. david: the markets continued their climb as the federal reserve vowed to keep the printing presses roll being but is the market the only thing really benefiting from their programs? former congressman and long-time fed critic ron paul is telling us exclusively how all this could have potentially, extremely dangerous impact on the money you have in the bank and our country in general. lauren: plus cyprus may be the on the brink of default and looking to confiscate people's mone
david: sort of a bellwether of the economy, what the economy is doing here and as well overseas caterpillar was the worst performer on the dow. it was only down less than 2%. it did drag down the dow from what it could have been. the company is reporting dealer sales, get this, in the asian region dropped 26% in the last three months. north america by comparison only fell 12%. big drop in purchases from asia. lauren: stronger than expected results from general mills giving a boost to the food...
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Mar 21, 2013
03/13
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economy has gotten stronger. today's economic data may back their theory but with sequester cuts just beginning to roll out and poor guidance from some of the world's largest companies, how long will it last? we'll ask top economist jeffrey cleveland. sandra: pay tv providers losing customers according to a new study. later in the show one of the top analysts on the street will give us a look into the future of television and tell us what companies will suffer and which ones will come up on top. my mother made the best toffee in the world. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their business and launch their dreams. go t to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. and make your business dream a reality.
economy has gotten stronger. today's economic data may back their theory but with sequester cuts just beginning to roll out and poor guidance from some of the world's largest companies, how long will it last? we'll ask top economist jeffrey cleveland. sandra: pay tv providers losing customers according to a new study. later in the show one of the top analysts on the street will give us a look into the future of television and tell us what companies will suffer and which ones will come up on...
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Mar 21, 2013
03/13
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it weakens those economies dramatically, weakens those countries. and it also weakens italy. >> you're saying potential contagion. finally, how does it get resolved? michelle is talking about a good bank/bad bank, nobody pays on deposits up to $100,000. the bailout is 10 billion euros from the european -- ecb. the bail-in is about $6 billion euros. so greece is looking for whatever they're looking for, $4 billion, $5 billion. or does europe bail that out even more? >> the biggest factor of all, dan and i were talking a couple minutes ago, the depositors above 100,000 will lose 40% to 50%. >> those are russians. they're going to be pissed off. >> the great systemic problem of giant bank failures is somewhat eliminated by what they're putting forward now. >> what do you think, dan? does this work? >> for our viewers i don't think it matters. the specifics are super interesting, we're going to go have a drink. what matters to people at home, what matters to the larger story is we decided that people's property in banks was not their own. >> in europe o
it weakens those economies dramatically, weakens those countries. and it also weakens italy. >> you're saying potential contagion. finally, how does it get resolved? michelle is talking about a good bank/bad bank, nobody pays on deposits up to $100,000. the bailout is 10 billion euros from the european -- ecb. the bail-in is about $6 billion euros. so greece is looking for whatever they're looking for, $4 billion, $5 billion. or does europe bail that out even more? >> the biggest...
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Mar 21, 2013
03/13
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about the economy. that is not happening right now. stuart: middle america senses something is wrong, we have spent a ton of money, deeper in debt. >> the other thing they understand is you have this anomaly. the stock market is hitting record, yet the average person thinks they have money in a 401(k), that is great. but the other thing is they invest in a cd. there is nowhere to do normal savings right now because saving rates are close to zero. all this money being forced into the stock market, people are worried about how real those numbers are. stuart: you're very much in touch with the political reaction going on in the economy. but there is no political reaction to middle america about what is going on here. president obama is still relatively popular, his policies are still relatively popular. >> his handling of the economy have dropped precipitously. he is now basically dead even with the republicans handling of the economy, so i think the president should be more worried about it than he is. re
about the economy. that is not happening right now. stuart: middle america senses something is wrong, we have spent a ton of money, deeper in debt. >> the other thing they understand is you have this anomaly. the stock market is hitting record, yet the average person thinks they have money in a 401(k), that is great. but the other thing is they invest in a cd. there is nowhere to do normal savings right now because saving rates are close to zero. all this money being forced into the stock...
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Mar 21, 2013
03/13
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we like cyclical areas, the economy, reliant steel, i mentioned, which we think is part of the u.s. manufacturing renaissance. we like china here, too, which has been through a big bear market, just starting to come back out of it. our numbers indicate china is going to be recovering the second half of the year and going on a bigger growth. air china is a great stock, we think. two or three times cash flow. 40% off its highs from just a couple years ago. >> and jack, to wrap it up, you guys both just recommended financials, we're watching what's going on in cyprus. do the weakness in european banks benefit our banks at all? >> i would say in general, it does. you know, it certainly puts the u.s. in a better light. it puts the u.s. banking system in a better light. you know, while we're certainly not out of equities, in fact, we're overweight high volatility asset classes, you know, i would prefer to at least at this stage, you know, make our money here at home. >> got it. relatively speaking. looking better. thank you very much, jack and steve. and by the way, we're sitting around s
we like cyclical areas, the economy, reliant steel, i mentioned, which we think is part of the u.s. manufacturing renaissance. we like china here, too, which has been through a big bear market, just starting to come back out of it. our numbers indicate china is going to be recovering the second half of the year and going on a bigger growth. air china is a great stock, we think. two or three times cash flow. 40% off its highs from just a couple years ago. >> and jack, to wrap it up, you...
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Mar 22, 2013
03/13
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KICU
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>> reporter: will drivel through the local economy. $20million every time the ncaa comes to town. this is the third time in seven years. >> 15, 17 hours a day, we've been here in the building. we love it. it's march madness, it's fantastic. >> reporter: with ice hockey a shortened season, six basketball games over today and saturday are especially welcome. for cal, it's almost like a home court. >> fans are so close to the action. it creates a terrific atmosphere. >> reporter: loud too at local bars and restaurants, where the games dominate tv. >> cardinal fans, rams fans, and big billikens fans. >> reporter: this couple from st. louis got their win, then watched all day. >> i can't believe how clean and beautiful the city is. everybody that we've seen has been so great to us. even the opposing team. >> especially the first two days of the ncaa tournament. a lot of upsets. you can hear the buzz, and people are pretty fired up here. >> reporter: once a cal player, now a fan, this dad paid $100 a ticket. >> i've only been here to see madonna. never been here for a sporting event. it
>> reporter: will drivel through the local economy. $20million every time the ncaa comes to town. this is the third time in seven years. >> 15, 17 hours a day, we've been here in the building. we love it. it's march madness, it's fantastic. >> reporter: with ice hockey a shortened season, six basketball games over today and saturday are especially welcome. for cal, it's almost like a home court. >> fans are so close to the action. it creates a terrific atmosphere....
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Mar 22, 2013
03/13
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KTVU
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>> reporter: will drivel through the local economy. $20million every time the ncaa comes to town. this is the third time in seven years. >> 15, 17 hours a day, we've been here in the building. we love it. it's march madness, it's fantastic. >> reporter: with ice hockey a shortened season, six basketball games over today and saturday are especially welcome. for cal, it's almost like a home court. >> fans are so close to the action. it creates a terrific atmosphere. >> reporter: loud too at local bars and restaurants, where the games dominate tv. >> cardinal fans, rams fans, th st. louis got their win, then watched all day. >> i can't believe how clean and beautiful the city is. everybody that we've seen has been so great to us. even the opposing team. >> especially the first two days of the ncaa tournament. a lot of upsets. you can hear the buzz, and people are pretty fired up here. >> reporter: once a cal player, now a fan, this dad paid $100 a ticket. >> i've only been here to see madonna. never been here for a sporting event. it's clean, high-tech. we're in silicon valley, it's
>> reporter: will drivel through the local economy. $20million every time the ncaa comes to town. this is the third time in seven years. >> 15, 17 hours a day, we've been here in the building. we love it. it's march madness, it's fantastic. >> reporter: with ice hockey a shortened season, six basketball games over today and saturday are especially welcome. for cal, it's almost like a home court. >> fans are so close to the action. it creates a terrific atmosphere....
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Mar 20, 2013
03/13
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and global economy. they are doing it, we are seeing them succeed in a lot of different ways. the productivity story is good. that is where elevating standard of living comes from. that is -- we are looking at more confidence going forward now. >> and the dycotomi has been that the smaller businesses have not been able to do that. >> we have to stop picking on them. >> mike and tony will stay with us. situation in cyprus is as dicey as ever. question, will russia come to the rescue? will the banks there ever reopen? and will it stay in the eu? we've reports from moscow and cyprus, coming up next, please stay with us. >> situation in cyprus getting worse today, banks will not open until next week at the he earliest. good evening michelle. >> larry, another day, another attempt to try to come up with a rescue plan for cyprus, today cyprus suggested that they would try to raid a pension fund, and promise to pay the workers down the road. but that idea was not liked. additionally they are trying get money fr
and global economy. they are doing it, we are seeing them succeed in a lot of different ways. the productivity story is good. that is where elevating standard of living comes from. that is -- we are looking at more confidence going forward now. >> and the dycotomi has been that the smaller businesses have not been able to do that. >> we have to stop picking on them. >> mike and tony will stay with us. situation in cyprus is as dicey as ever. question, will russia come to the...
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Mar 21, 2013
03/13
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we're talking about an economy on the brink potentially of collapse. how far might the dominos fall? >>> domino's. i like domino's sugar, but i like milk a lot. i drink a lot of milk. you got money? you got milk? the milk industry as an utterly big problem on its hands. think about it. >>> and new costs. they may be about to get passed on to you in the milk market. the stock market has taken a hit, sue. >> i'm laughing at the "udderly," and it's utterly ridiculous that some things down here are focusing on. we're down a little bit but not as much as one would think given all the headline risk you outlined. the dow jones industrial average is off 54 points, the s&p is off 6. the nasdaq off about 18. gold has a little bounce, 5 bucks or so, and west texas intermediate is trading down about a buck on the trading session. u.s. markets falling due to some less-than-stellar corporate reports in the last 24 # hours. it's also worth noting that european stocks traded lower today on weaker than expected manufacturing data. and, of course, we're basically down f
we're talking about an economy on the brink potentially of collapse. how far might the dominos fall? >>> domino's. i like domino's sugar, but i like milk a lot. i drink a lot of milk. you got money? you got milk? the milk industry as an utterly big problem on its hands. think about it. >>> and new costs. they may be about to get passed on to you in the milk market. the stock market has taken a hit, sue. >> i'm laughing at the "udderly," and it's utterly...
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611
Mar 22, 2013
03/13
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eye 611
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. >> in terms of longer term, do you think this economy improves second half or do you think it slows down? >> i think, as a matter of fact, we're probably in the second quarter. you'll start seeing slow growth. but i think as this summer winds, you know, goes through, we'll start seeing some growth again. i do think that by the end of the year, we're going to be not a lot higher, but i think we'll be at all-time highs as the year goes on. probably the the end of the summer, the third quarter going into the fourth quarter. i'm positive. >> so bill, because the s&p capital iq estimates call for 0.6% growth the first quarter and then it goes up to 7%. so they're expecting profits to actually reaccelerate second half. >> lee munson, you're the only outside guest buying stocks here. what are you buying here? >> you know, i'm just focusing where i need to get some more exposure. i'm focusing first on emerging markets. they've lagged year-to-date. i think they can outperform by december 31st. i like the emerging markets to add more money today. i would also say, add more money to the s&p 50
. >> in terms of longer term, do you think this economy improves second half or do you think it slows down? >> i think, as a matter of fact, we're probably in the second quarter. you'll start seeing slow growth. but i think as this summer winds, you know, goes through, we'll start seeing some growth again. i do think that by the end of the year, we're going to be not a lot higher, but i think we'll be at all-time highs as the year goes on. probably the the end of the summer, the...
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94
Mar 26, 2013
03/13
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what is for sure, tyler, is the economy here will contract significantly. anywhere between 10% and 30%. they'll contract the financial sector, which is up until now, 50% of the economy. that's why all those people are protesting. they know what's coming. it's going to be painful. >> michelle caruso-cabrera, thank you very much. sue, down to you. >> ty, goldman sachs, one of the big stocks to watch today. let's look at the stock. it's up about 15% so far this year. the investment bank will have a new top ten shareholder soon, with the stock down just a fraction today of a percent at 14585. that new shareholder in a big ware, warren buffett. our mary thompson is here with more. >> buffett's future ranks among shareholders is borne from a crisis era deal that help to shore up goldman in 2008. where he ultimately lands in the ranks will depending on the share price. the two sides amending the original agreement, saving buffett to shem out money he would have -- and saving goldman from diluting its existing shareholders. here is how it works. in exchange for the
what is for sure, tyler, is the economy here will contract significantly. anywhere between 10% and 30%. they'll contract the financial sector, which is up until now, 50% of the economy. that's why all those people are protesting. they know what's coming. it's going to be painful. >> michelle caruso-cabrera, thank you very much. sue, down to you. >> ty, goldman sachs, one of the big stocks to watch today. let's look at the stock. it's up about 15% so far this year. the investment...
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Mar 21, 2013
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you've got the good economy. tremendous housing numbers, miraculous retail sales, terrific oil and gas markets. you have the bad economy. weakening commodity prices. slow commercial real estate business. really bad world commerce outlook. real soft information technology sales. you mix them all up together and you get the absolute perfect environment for the fed reserve to stay stock market friendly. that's exactly what happened today. ben bernanke allowed the averages to power higher. dow gained 56 points. the s&p rising today, nasdaq jumping .78%. it's not sleight of hand or alchemy at work here, despite what critics say when they constantly slam the fed. >> boo! >> bernanke is not playing a game of move the stock market higher by simply continuing to keep the competition from bonds incredibly weak. he's got a real good reason for doing what he's doing, which is staying the course, keeping rates low. that reason? 1937. see, ben bernanke is a rigorous guy. he's a professor and a genuine scholar of american finan
you've got the good economy. tremendous housing numbers, miraculous retail sales, terrific oil and gas markets. you have the bad economy. weakening commodity prices. slow commercial real estate business. really bad world commerce outlook. real soft information technology sales. you mix them all up together and you get the absolute perfect environment for the fed reserve to stay stock market friendly. that's exactly what happened today. ben bernanke allowed the averages to power higher. dow...
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Mar 21, 2013
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economy. or is about the european debt crisis and slumping steaks -- tech stocks are weighing on the market. the major averages are all on track to finish in the red. nike running lower ahead of third quarter earnings due out after the bill today. the global sports apparel at the where companies expected to report earnings per share of $0.67 on just over 6 billion in revenue. nike has had a good track record , beating in three of the last four quarters. getting your starbucks fix could use some free joke. the coffee chain expanding its popular customer rewards program. shoppers dinner points for free drinks and food after buying starbucks back coffee at the food store. and now we continue our "countdown to the closing bell" with sheryl. ♪ cheryl: clinical trials of the prescription. shares of acadia pharmaceuticals soaring to a new height. let's head back to nicole petallides on the floor of the new york stock exchange. >> reporter: l.a.'s taken fund selected a company that is building in ma
economy. or is about the european debt crisis and slumping steaks -- tech stocks are weighing on the market. the major averages are all on track to finish in the red. nike running lower ahead of third quarter earnings due out after the bill today. the global sports apparel at the where companies expected to report earnings per share of $0.67 on just over 6 billion in revenue. nike has had a good track record , beating in three of the last four quarters. getting your starbucks fix could use some...
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Mar 19, 2013
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i don't think they've seen enough evidence yet that the economy's firm. and thus ready to pull back. >> when you look at what the fed, very different thing. if you look at what he's likely to do as he goes i guess through the rest of the year and potentially retire, do you think he starts to get positive on the economy just because he wants to say i told you so? >> no. that's not the way he works. what you have now is really a bifurcated economy. growth in the first quarter isn't that bad. private sector employment has gone over 200,000, so that seems to be picking up steam, but at the same time, fiscal policy the tightening and could hold growth back. i don't think he feels any need to beat his chest at this point. >> at the same time, we had a flurry of wall street firms revise their gdp estimates for the quarter. based on that surprise retail sales numbers. >> they're going to be updating their forecasts and i think they're going to be in the two directions. they should be more upbeat about the private sector growth and that creates an upward pull on g
i don't think they've seen enough evidence yet that the economy's firm. and thus ready to pull back. >> when you look at what the fed, very different thing. if you look at what he's likely to do as he goes i guess through the rest of the year and potentially retire, do you think he starts to get positive on the economy just because he wants to say i told you so? >> no. that's not the way he works. what you have now is really a bifurcated economy. growth in the first quarter isn't...
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Mar 20, 2013
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i am cautiously optimistic about the economy. it seems as if, despite the unemployment, despite the debt, that consumers are spending, and we are enjoying the same level of success that we've enjoyed the last 12 months in the u.s. business. having said that, i think one has to be incredibly concerned about the fragile nature of western europe, what's happening in cyprus, and other geopolitical issues that ultimately affect the united states. >> what about the minimum wage in this country, howard? is $7.25 enough. lots of pushes to take that up to $9, as president obama has talked about. the average starbucks barista, according to glassdoor website, makes $8.78 an hour. >> well, that's a little misleading, but i'll come back to that. you know, i think the minimum wage issue is a double-edged sword. and what i would not want to see is the minimum wage go up and as a result of that, employers starting to hire less people or cutting people's hours. and you have to be very careful of the unintended consequences. on balance, i am a sup
i am cautiously optimistic about the economy. it seems as if, despite the unemployment, despite the debt, that consumers are spending, and we are enjoying the same level of success that we've enjoyed the last 12 months in the u.s. business. having said that, i think one has to be incredibly concerned about the fragile nature of western europe, what's happening in cyprus, and other geopolitical issues that ultimately affect the united states. >> what about the minimum wage in this country,...
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Mar 19, 2013
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has had their economy outperform other economies and i think it's a flight to safety relative to the u.s. markets on one hand and it's an unwind from the bond market and risk exposure going forward to rate changes on the other hand. so it's both a flight to safety as well as, you know, what's really going on domestically and people are looking at a twist now with the fed and what their posture will be heading forward. >> i'll be back, adobe earnings at the top of the hour. >> take care, maria. >> what do you think? we're finishing positive here. this market doesn't want to go up? you think some of that's short covering? >> i think that's what we're see right now. finishing up the day. right now people will have to play it cautiously. we haven't seen the end of the cyprus thing. we have some negotiating going on from russia. the impact of that, as you mentioned, is a little minor relative to the size and scope of them, but it's whether or not that moves into italy, spain, as we've all been talking about. >> the contagion. thanks, terry, good to see you. looks like we will finish posit
has had their economy outperform other economies and i think it's a flight to safety relative to the u.s. markets on one hand and it's an unwind from the bond market and risk exposure going forward to rate changes on the other hand. so it's both a flight to safety as well as, you know, what's really going on domestically and people are looking at a twist now with the fed and what their posture will be heading forward. >> i'll be back, adobe earnings at the top of the hour. >> take...
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Mar 21, 2013
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he said the chancellor is sucking the confidence out of the economy. the financial markets seemed e prerelaxed with what we heard yesterday. >> i think the potential markets have factored in now for very many months. the economy here in the uk is flat. it's flat lined. there's no growth. our deficit has been expected to stay high now for many months. the chancellor confirmed yesterday what we've all known for a long time. the national debt is rising year on year. the borrowing is not coming down. britain was an experiment two years ago in rapid austerity. i think the markets here know what the country here in britain knows, it's failed. >> they did come out saying business applauded measures yesterday, which i'm sure he would also applaud. 32 pounds of national insurance. that's going to help job creation, cutting corporate tax rates again. infrastructure spending, he's done that, as well. there are very business friendly measures here and it's the private sector, after all, that's going to get the growth going in this country. >> look, the small busin
he said the chancellor is sucking the confidence out of the economy. the financial markets seemed e prerelaxed with what we heard yesterday. >> i think the potential markets have factored in now for very many months. the economy here in the uk is flat. it's flat lined. there's no growth. our deficit has been expected to stay high now for many months. the chancellor confirmed yesterday what we've all known for a long time. the national debt is rising year on year. the borrowing is not...
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Mar 20, 2013
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economy and the continued rise of e-commerce. they go up 8% very much in line with the s&p. >> so you must have bought more this morning. >> no. i mean, we have been a holder of it before christmas. still up over 8%. but look if you're a trader in the stock market, it will still be choppy. but long term, buy on the dip. >> what -- >> i was going to say i disagree, simon, because if you look at the guidance going forward, it trades at 17 times, but still having trouble meeting analyst estimates. what do you see that's going to change on the international revenue front? >> okay, i think it was over the last five years, only two estimates that missed, which is last quarter and this quarter. a big part of that is the miss on guidance. because we know they go through a massive restructuring. so i think the problem isn't identified yet. it's a choppy area. but to be fair to the country and the guidance, you have massive restructuring. you're taking people out of retirement. get massive cost cuts in the area. it will be difficult to giv
economy and the continued rise of e-commerce. they go up 8% very much in line with the s&p. >> so you must have bought more this morning. >> no. i mean, we have been a holder of it before christmas. still up over 8%. but look if you're a trader in the stock market, it will still be choppy. but long term, buy on the dip. >> what -- >> i was going to say i disagree, simon, because if you look at the guidance going forward, it trades at 17 times, but still having...
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Mar 26, 2013
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it will remain the pattern as long as our economy keeps growing and it will be the pattern as far as the eye can see. i want to take callers right now. i did a mess with the cheerios boxes here. mark in new hampshire. >> caller: jim, how are you? >> i hurt my back on saturday. >> caller: lake winnapesaukee boo-yah, brother. i've got a question for you. i own monster. i did really well. was up by 200%. i didn't sell it like an idiot. now it's down and i wonder if i should dump it now because of the heart attacks and last week's study about the heart conditions, all that good stuff? i don't know if i should dump it, even though i'm up a little bit and take that and maybe buy something else to try to get my position down. >> first of all, you're too hard on yourself. when you say you're an idiot, that's the way i talk. don't ever be like me. you're going to have to take medicine. here's the problem. there have been a couple senators writing these letters about monster and the letters read real bad, okay? you don't want senator -- we have enough problems with stocks. we don't want senato
it will remain the pattern as long as our economy keeps growing and it will be the pattern as far as the eye can see. i want to take callers right now. i did a mess with the cheerios boxes here. mark in new hampshire. >> caller: jim, how are you? >> i hurt my back on saturday. >> caller: lake winnapesaukee boo-yah, brother. i've got a question for you. i own monster. i did really well. was up by 200%. i didn't sell it like an idiot. now it's down and i wonder if i should dump...
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Mar 22, 2013
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been really silent since saying the budget sequester will produce very big lay-offs and a weakened economy. he's gone radio silent. we know next week that will be the week when the president will most likely use his podium to talk about how horrible sequestration will be, because it kicks in at the end of the month. perhaps the excellent jobless numbers we got this morning will be the last good one if it's as bad as obama scares us into thinking it is. we know that local and state governments are cutting back. that's not positive. finally, there is this missed quarter evidence. federal express did blow up. it was not a good number. caterpillar is down 12%, retail sales number might not translate into weak earnings. i was prepared for cat sales to be flat, maybe up a little, not down double digits. then we got oracle. while oracle almost always bounces back, making my charitable trust which owns the stock want to buy more, i have to believe the macroenvironment has gotten worse than we thought. oracle is not that bad a company. you don't want to get too negative either. what could be right?
been really silent since saying the budget sequester will produce very big lay-offs and a weakened economy. he's gone radio silent. we know next week that will be the week when the president will most likely use his podium to talk about how horrible sequestration will be, because it kicks in at the end of the month. perhaps the excellent jobless numbers we got this morning will be the last good one if it's as bad as obama scares us into thinking it is. we know that local and state governments...
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Mar 20, 2013
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but these two kind of the backbones of our economy. we have to keep our eyes and so many more of the transport stocks going forward. >> oracle now down about 7%. we'll get the updates from jon fortt later on in the show. ben bernanke, keeping the easy money and the rally for that matter going for now pushing the s&p 500 closer to an all-time high. let's get straight to the traders here. and dr. j. john najarian is also joining us here onset. we are points away from the s&p 500 hitting the all-time closing high. what's your guess on when that happens? >> if it weren't for oracle, it would have been early in the morning tomorrow. and even with oracle, i think the market still has enough gas, melissa to get past that. but to j.j.'s point and everyone on the desk, i agree there are some in the armor. not to push the market down, but to keep the fed in that tight box, that is exactly where the fed is. they're stuck, they can't get out of this now. if you were looking for an early exit, ain't happening, folks. not happening, not getting out
but these two kind of the backbones of our economy. we have to keep our eyes and so many more of the transport stocks going forward. >> oracle now down about 7%. we'll get the updates from jon fortt later on in the show. ben bernanke, keeping the easy money and the rally for that matter going for now pushing the s&p 500 closer to an all-time high. let's get straight to the traders here. and dr. j. john najarian is also joining us here onset. we are points away from the s&p 500...
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Mar 21, 2013
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economy is improving. good news for stock prices. some worry that earnings season may disappoint and trigger a sell-off. but i would expect that to be met with the buy on the dip mentality. we've already seen some earnings cracks. fed skpex oracle each reporting disappointments this week. those stocks took big hits as a result. does that indicate a weakness coming for transport? more will be revealed in the next two weeks with the earnings avalanche soon to kick in. but as investors wait for answers, they're asking the question, where is the growth in the world today? emerging markets fbl under pressure after outperforming for more than a decade. as money comes out of u.s. stocks, it will find a home in places like mexico, where stocks are starting to show real strength as well. many think reforms there will be bullish for investors. and smart money may keep heading south for returns in brazil or colombia. that is not to say the buy in the dip for the u.s. markets won't continue. i believe it will. but with a 10% gain in stocks so fa
economy is improving. good news for stock prices. some worry that earnings season may disappoint and trigger a sell-off. but i would expect that to be met with the buy on the dip mentality. we've already seen some earnings cracks. fed skpex oracle each reporting disappointments this week. those stocks took big hits as a result. does that indicate a weakness coming for transport? more will be revealed in the next two weeks with the earnings avalanche soon to kick in. but as investors wait for...
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Mar 21, 2013
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the europe is 25% of the global economy. it's china's largest customer, so when we talk about all these things and we talk about whether or not ali baba is going to do well, and you've got to be a bull on china, you have to question that thesis when you see something like france down 1.5% today. >> yeah. >> quickly. >> and i'll take small exception right here because over the past month the u.s. is up barely 3%. germany is up 4.5%. france is up 4.3%. that's as of right now, so over the past month they are outperforming. that's not telling me these guys are stopping and hitting the brakes hard. that tells me there's a little churn going on and that's it. >> all right. coming up on "the half," housing a bright spot in the recovery, no doubt, but is the hot run about to cool off? we're going to talk to a man who says it actually might happen when "halftime" comes back. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced
the europe is 25% of the global economy. it's china's largest customer, so when we talk about all these things and we talk about whether or not ali baba is going to do well, and you've got to be a bull on china, you have to question that thesis when you see something like france down 1.5% today. >> yeah. >> quickly. >> and i'll take small exception right here because over the past month the u.s. is up barely 3%. germany is up 4.5%. france is up 4.3%. that's as of right now, so...
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Mar 21, 2013
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economy. connell: what we have been saying here, unless the interest rates start to go up, you can pull people and they can say whatever they want. their behavior will not change unless you see a spike in interest rates. >> it will be hard to get a spike in interest rates with the fed flooding the system with liquidity. the whole world is on painkillers right now. we have become addicted to liquidity, easy solutions and until the fed start to bring it in and interest rates go up, i do not see a change. dagen: do the people who are still buying taxable debt, you start to see money flowing back into u.s. stock. you see billions every week into world stock. >> i think we are somewhere close to the end of a bond bubble. for the third time in 60 years, we are looking at ten year treasury rates below inflation. that is, obviously, not a way to build over time. we have put $1 trillion into bonds from 2009-2012 and we are still not seeing it, now. this great return we are talking about, that has not h
economy. connell: what we have been saying here, unless the interest rates start to go up, you can pull people and they can say whatever they want. their behavior will not change unless you see a spike in interest rates. >> it will be hard to get a spike in interest rates with the fed flooding the system with liquidity. the whole world is on painkillers right now. we have become addicted to liquidity, easy solutions and until the fed start to bring it in and interest rates go up, i do not...
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Mar 20, 2013
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and the market is up and fedex we talk about that being something of a proxy for the economy. and they reported the numbers this morning and the profits were lower, and maybe people are buying or not shipping as much of the certainly we want to find out what's going on. let's go to nicole petallides on the floor the of the new york stock exchange. >> we're seeing fedex to the down side and the transportation index is higher and the dow is up 51 points. fedex comes out here with the numbers and they talk about weakness that hit their profits and they're actually trying to cut costs, but in cutting costs they actually incur cost toss cut costs so they're noting that as well. and year to date, fedex is a winner, up about 16%, you can see today down 4 1/4%. charles: i've got to tell you it's amazing that the fed is print to go this degree and the market is up. and a tech name coming out, oracle, they're after the bell, what are you hearing? >> we're seeing oracle with an up arrow and year to date, it is a winner and obviously they're going to be reporting numbers after the closing
and the market is up and fedex we talk about that being something of a proxy for the economy. and they reported the numbers this morning and the profits were lower, and maybe people are buying or not shipping as much of the certainly we want to find out what's going on. let's go to nicole petallides on the floor the of the new york stock exchange. >> we're seeing fedex to the down side and the transportation index is higher and the dow is up 51 points. fedex comes out here with the...